I have to agree with you Fontenay. There is a very small smell emanating from this deal, i originally thought they were going to be very clever and announce Hanlong deal & finance at the same time and let us all bathe in some glorious profit... I then woke up and spoke to a Chinese Govt. fellow who thought the whole Chinese New Year excuse was a load of $hit. (this guy is the real deal, i spoke to him in Cambodia last week) If it was a real reason then the deal would have been announced last week. The deal wasn't and then we get our announcement today telling us everything is great just chill out for another couple of weeks cause everything is going really well - wtf?
When speaking to the company last week i asked them about the news article published in China stating the deal had been given final approval, there answer was they were trying to track down that article. Were they trying to confirm the statement from a journalist because our great mates at Hanlong are staying mum until they have their back end sorted out? I don't know but the longer this drags on the more suss i'm going to get.
On the other hand we will have an announcement within two weeks confirming the company making deal that is the Hanlong investment....maybe we should just chill? If Hanlong doesn't take it there's a company called Thompson Creek that may be very interested...
Stay away from Pot, DBM
MOL Price at posting:
85.0¢ Sentiment: Buy Disclosure: Held